Pharming Group (NASDAQ:PHAR) Releases Earnings Results, Misses Estimates By $0.04 EPS

Pharming Group (NASDAQ:PHAR) released its quarterly earnings data on Thursday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04), FiscalAI reports. Pharming Group had a net margin of 3.30% and a return on equity of 4.64%.

Here are the key takeaways from Pharming Group’s conference call:

• 2026 revenue guidance was reduced by $30 million to $375 million–$395 million, reflecting continued competitive pressure on RUCONEST and a 0%–5% expected revenue growth range.
• RUCONEST revenue fell 10% year over year to $72.3 million, but management highlighted resilience in the active patient base, which remained at 93% of prior-year levels, and a recovery in new enrollments to 84 in Q2. The company expects RUCONEST revenue to stabilize and return to growth in the second half of 2026.
• JOENJA revenue grew 40% to $17.9 million, with U.S. revenue up 31% and international revenue up 150%. Growth is expected to be supported by launches in Germany and Japan, further U.S. patient identification, and potential pediatric label expansion.
• Two fully enrolled phase II studies evaluating leniolisib in broader primary immunodeficiencies and CVID are expected to produce results in Q4 2026. Positive data could expand JOENJA’s addressable population substantially—CVID is estimated to be up to 40 times larger than APDS—and support a potential blockbuster franchise.
• Pharming reduced full-year operating expense guidance by $15 million to $315 million–$320 million while continuing more than $40 million of incremental R&D investment. Q2 operating profit remained positive, but operating cash flow was negative $9.7 million and cash and marketable securities declined to $159.5 million.

Pharming Group Stock Down 10.5%

Shares of PHAR traded down $1.26 during mid-day trading on Thursday, reaching $10.75. 49,554 shares of the stock traded hands, compared to its average volume of 5,623. The firm has a market cap of $760.88 million, a price-to-earnings ratio of 67.19 and a beta of -0.04. The stock has a fifty day simple moving average of $13.07 and a 200 day simple moving average of $15.23. Pharming Group has a 12-month low of $9.62 and a 12-month high of $21.34. The company has a quick ratio of 2.06, a current ratio of 2.63 and a debt-to-equity ratio of 0.35.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PHAR. Zacks Research raised shares of Pharming Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a report on Thursday. Wall Street Zen cut shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Canaccord Genuity Group started coverage on Pharming Group in a research report on Friday, April 10th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Weiss Ratings cut Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Pharming Group presently has a consensus rating of “Hold” and a consensus target price of $38.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PHAR. EverSource Wealth Advisors LLC purchased a new stake in Pharming Group during the 2nd quarter worth $32,000. SmartHarvest Portfolios LLC purchased a new position in Pharming Group in the 4th quarter valued at about $224,000. Millennium Management LLC acquired a new stake in shares of Pharming Group during the fourth quarter valued at about $360,000. Finally, NewEdge Advisors LLC grew its stake in shares of Pharming Group by 11,310.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $510,000 after acquiring an additional 28,615 shares in the last quarter. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

About Pharming Group

Pharming Group N.V. is a clinical-stage biopharmaceutical company headquartered in Leiden, the Netherlands, with a primary focus on developing and commercializing innovative protein replacement therapies for patients living with rare diseases. The company employs a proprietary transgenic technology platform designed to produce recombinant human proteins in the milk of transgenic animals, enabling scalable and cost-efficient manufacturing of complex therapeutic proteins.

The company’s lead product, RUCONEST (recombinant human C1 esterase inhibitor), is approved for the treatment of acute hereditary angioedema (HAE) attacks in multiple markets, including the United States and Europe.